Business: Getting Back To The Future
In the movie franchise Back To The Future, Doc and Marty McFly go into the future, and bring back technology, aiming to utilize future technology in the current or historic world (watch BTTF 3). In Terminator, technology from the future is transported back in time to alter the course of history.
Yes, I like movies, and there are things we can take out of these movies as we think about the current state of business, and especially as we think about the future.
Project The Future
While we don’t know what the future holds, those who are able to effectively project where the market will go are exceptionally successful. Statistically, there are very few of these kind of people around. However, the rest of us can learn from them.
As you watch the market, especially as it relates to technology, look to people who seem to be able to predict where things are headed. Read what they have to say, evaluate their thoughts, and then move ahead of the market into newer technologies.
Don’t Get Caught Under The Wave
If you talk with people who surf, most will tell you that being on top of the wave is much better than being under it. However, being just ahead of it is where the real money is.
In the technology world, being an early adopter is being just ahead of the wave. When you get into the early majority and late majority stages, this is where you actually run more risk than those in the early adopter stage.
Case and Point: Facebook
If you are not on Facebook at this point, you are well under the wave. When Facebook first started having businesses leverage its platform, they could easily setup a profile, and publish content. Sure, there were some restrictions, being it was in reality a personal profile at first, but they didn’t have to pay for exposure. Further, people had not yet been inundated with marketing message upon marketing message. These were the pioneers, and those who proved it is a technology you simply cannot ignore.
Now, however, we are in the early majority phase. There are still many businesses that will not go there. However, the competition is much fiercer. You have to pay Facebook to get your marketing message out as widely as you once could organically and virally. Moreover, the competition is only increasing every day.
Managing The Risk
Of course being part of the Early Adopters has its risks. You very well could invest in something that really does not work. However, what is the cost differential when you compare that to being one of the businesses who pay the price for what the early adopters have proven?
It comes down to managing the risk. You have to look at the potential of the future technology you are evaluating, and be able to put your own fears aside. Determine if it has potential and what investment is needed.
I love what Jeffrey Gitommer has said, “If you want to succeed, you must be willing to risk.” In this case, the risk is not waiting for something to be proven before you try it, but looking at the potential and capitalizing on it.
One of the best ways of capitalizing on it is to collaborate with right people, who can help you stay ahead of the wave. The team we’ve gathered at LocalDirective is just that. For instance, it is now accepted that Social Media is a significant influencer in the realm of Search Engine Optimization. Our team has been discussing this since 2011, not to mention the overall importance of Social Media Marketing as part of a powerful online presence.
Contact the experts at LocalDirective, and let us put together a winning strategy for you that looks toward the future, so you will be thriving for years to come.